Neusoft Xikang Healthcare Technology, a healthcare management spinout of China-based IT services provider Neusoft, has raised $64m in a series A round featuring corporates Alps Electric and PICC Property and Casualty Company.
Electronic device and component maker Alps and Chinese state-owned insurance firm PICC invested in the strategic round, which followed a reported $170m round in December 2014 that included Hony Capital, the private equity arm of conglomerate Legend Holdings, and investment bank Goldman Sachs.
Neusoft Xikang is developing cloud-based medical and healthcare management software and wearable devices that combines big data, cloud computing and mobile internet technology to connect patients with doctors and other medical services.
The corporates’ contributions were made as strategic investments with a long-term goal of linking the platform to commercial insurance products and sensor technology.